Albanian Automobile Industry Registered Significant Growth During the Review Period

Date: 2015-09-16

“• Albania has a small but developing insurance industry

• The Albanian insurance industry grew recording a CAGR of 2.1% during the review period

• The development of voluntary private pension funds in the country is expected to strengthen the financial system, including insurance

• The Albanian automobile industry registered significant growth during the review period; vehicle sales increased from 1,200 units in 2009 to 2,470 units in 2013 at a CAGR of 19.8%.

• Non-life insurance accounted for 80.8% of the total industry’s gross written premium value in 2013, followed by the life segment with 11.3% and the personal accident and health segment with 7.9%.

• The Albanian insurance industry is small with only 12 companies

• The insurance industry is supervised and regulated by the Financial Supervisory Authority (FSA)”


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